The Global Heat Not Burn Tobacco Market to Reach Revenues of Around $39 Billion During the Period 2020−2025 - Market Research by Arizton

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Mar 03, 2020, 09:00 ET

CHICAGO, March 3, 2020 /PRNewswire/ -- According to Arizton's recent research report, Heat not Burn Tobacco Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of over 22% during the period 2019−2025.

Key Highlights Offered in the Report:

The global HnB tobacco market would realize an absolute growth of 3300% – a phenomenal leap of over $37 billion revenue between 2015 and 2025.
Posting a CAGR of over 20% during 2019-2025, HnB tobacco products are attracting major infrastructure investments as the Big Tobacco firms are investing in new manufacturing and R&D facilities worldwide to meet the soaring demand.
Contributing about $21 billion incremental revenue during 2019-2025, HnB consumables offers a lucrative revenue potential opportunity for market vendors.
In 2019, Japan and South Korea accounted for a combined market share of over 70%. However, the approval of HnB tobacco products by the US FDA in early 2019 will help the US to capture 10% market share by 2025.
Online sales of HnB products, growing at over 20% YOY, will continue to erode the market share of retail channels during the forecast year.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by products, distribution, and geography
Competitive Landscape – Profile of 4 key vendors and 23 other vendors

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Heat not Burn Tobacco Market – Segmentation

HnB tobacco devices are emerging as the best alternative for tobacco. They have become popular with consumers since they are easy to use, safe, and adequately mimic the experience of smoking. Innovation and competition have produced a new generation of HnB products that are changing the tobacco landscape.
The majority of the revenue comes from retail distribution channels such as convenience stores, tobacco shops, grocery shops, drug stores, and supermarkets. The distribution environment is rapidly evolving with systems, and processes are being upgraded at a rapid pace.
The HnB consumables market is expected to grow at a CAGR of over 20%. The demand for capsules and cartridges is growing with the increasing purchase of HnB devices.

Market Segmentation by Distribution

Retail

Convenience Stores
Tobacco Shops
Grocery Shops
Drug Shops
Others

Online

Company & E-commerce Websites

Market Segmentation by Product

Devices

Direct/Indirect Heating
Hybrid/Infused

Consumables

Tobacco Capsules and Cartridges
Tobacco Sticks

Heat not Burn Tobacco Market – Dynamics

The end objective of every business is to earn more and more profit. The high profitability is a result of high growth sales and major investments. Investment in the business helps to make operations more efficient; majorly, the investments are made in product development, research & development, and to enhance marketing strategies. In the HnB industry, companies need to invest in research and development to know the changing behavior of smoking people and their shift towards health consciousness. Philip Morris, in 2017, announced an investment of around $330 million to expand the efficiency of Greece manufacturing plants, which manufactures smoke-free devices.

Key Drivers and Trends fueling Market Growth:

Growing Mergers & Acquisitions
Shift from Smoking Toward Heated Tobacco
Social Marketing Techniques Used for Promotion
Growing Techno Savvy Population

Heat not Burn Tobacco Market – Geography

APAC remains to be looked upon as the largest potential market for HnB products during the forecast period. Advances in lifestyle coupled with rising consumer expenditure are likely to increase the consumption of HnB vapor products in APAC during the forecast period. However, the region faces several challenges such as proposals to regulate vapor products, impose high taxes, and ban vapor products in the region. Besides, an increase in counterfeit products and unregulated manufacturing processes are hindering the growth of the APAC market. The consumer market in APAC, particularly in Southeast Asian countries, is poised to grow at a tremendous rate because of the increased spending power of buyers in various countries. Advances in lifestyle coupled with rising consumer expenditure, are likely to increase the penetration of HnB tobacco vapor products in APAC during the forecast period.

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Market Segmentation by Geography

Europe

Spain
Germany
Italy
France
UK
Poland
Russia
Czech Republic
Romania

North America

US
Canada

APAC

South Korea
China
Japan
Australia & New Zealand
Malaysia

MEA

UAE
South Africa
Egypt

Major Vendors

Philip Morris International
Japan Tobacco International (JTI)
British American Tobacco
Imperial Brands

Other vendors include - KT&G (Korea Tomorrow & Global Corporation), RJ Reynolds Vapor Company (RJRVC), Shenzhen AVBAD Technology Company Ltd., Pax Labs, Vapor Tobacco Manufacturing, Shenzhen Royal Tobacco Industrial Limited (Royal Tobacco), JOUZ, Shenzhen Yukan Intelligent Technology Co., Ltd., Anlerr, HI TASTE, Shenzhen Kamry Technology, Yetr Amus, Shenzhen Yunxi Technology, AIIR Technology (Shenzhen), Buddy Technology Development, Shenzhen Original Technology, Fog & Frog Technology (Shenzhen), YanB Technology Shenzhen, Coeus, CCBATO, Dongguan Hawei Electronic Technology Limited, Dongguan Cigwin Technology, and Shenzhen Keeptech Electronics.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence